MoF Guides Implementation of Resolution 13 on Business Support
The Ministry of Finance has issued the Circular No. 83/2012/TT-BTC to instruct the implementation of the Government’s Resolution 13/NQ-CP dated May 10, 2012 on a number of measures to ease difficulties facing enterprises and support the market.
The circular details instructions for value-added tax (VAT) deferral. Accordingly, VAT arising in April, May and June 2012 will be granted a six-month deferment. Beneficiaries are small and medium-sized enterprises (SMEs) specified in Clause 1, Article 3, Decree 56/2009/ND-CP of the Government dated June 30, 2009 on SME development assistance.
However, this rescheduling is not applicable to SMEs operating in lottery sector, securities, finance, banking, insurance, and manufacturing of goods subjected to excise tax.
In addition, the circular also specifies land rent reduction, corporate income tax postponement, licence tax exemption for fishing and salt production households, and land-use payment extension. Accordingly, 50 percent of land rents in 2012 will be reduced, applicable to economic organisations and enterprises operating in commercial and service sectors and renting land subjected to the government of Decree 121/2010/ND-CP.
The circular also provides licence tax exemption for fishing households in 2012. Where taxpayers are exempted from licence taxes arising in 2012, the State Budget will refund the tax paid. This is provided in the Point 3 of the Circular 42/2003/TT-BTC guiding amendment and supplement to the Circular No. 96/2002/TT-BTC of the Ministry of Finance dated October 24, 2002.
The extension of 12 months is applied to land lessees failing to pay taxes before May 10, 2012.
Q.C
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